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anna2
New Member
Does anyone know about the tax side of things in Cyprus? I've heard that its a tax haven in one form or another. Good to hear from anyone on either company or personal taxation in Cyprus.
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Nigel Howarth
Member
As a "retired" person living here, the tax situation is very favourable compared with the UK.
Retired residents from overseas are taxed on their pensions at the rate of 5% above about € 3,417/annum. Alternatively, you can opt to pay the normal rates where the first € 19,500 is tax free, rising to 30% on € 36,301.
So if there are two of you living here, each of you can receive an income of € 19,500 before paying tax - that's about £ 29,000 sterling between you.
PricewaterhouseCoopers publish a very good overview of the tax regime here. The 2008 issues isn't out (yet) but you can find the 2007 on their website. I can't publish the URL, but if you Google "pricewaterhousecoopers cyprus", you'll find it.
Regards,
Nigel Howarth
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